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HSBC Insurance Brokers (Philippines) Inc.
Credit Protect Plus
Credit Protection
Credit Protect Plus pays off the outstanding balance, including unbilled transactions (up to a maximum of P 400,000 per credit card), in the event of your death or total & permanent disability for a minimum cost of 69 cents per P 100.00 of the account outstanding balance.
Lost Card Protection Insurance
Lost Card Protection will cover up to 50,000 pesos of unauthorized transactions made on your HSBC credit card w/in the 24-hour period before the card is reported as lost to HSBC.
Life Events Benefit
Your Life Events Benefit will pay you in the next 3 months a monthly benefit equivalent to 5% of your closing statement balance following the date you experience any of the covered 5 life events. See below list.
The Five Covered Life Events
| 1. Involuntary Unemployment | Cardholder is unemployed due to office closure or redundancy & has worked for the same employer for at least 12 months as a regular or permanent employee. |
| 2. Extended Hospital Stay | Cardholder is confined in a hospital for more than 10 consecutive days. |
| 3. Legal Separation | Cardholder's separation from his spouse is legalized by the Courts in the Philippines. |
| 4. Loss of Residence due to Calamities or Fire | Cardholder suffered a total loss of his permanent residence (owned/ rented) due to fire, lightning, typhoon, earthquake, flood, landslide. |
| 5. Death of a Family Member* due to an Accident | *spouse & children for married Cardholders; and parents, unmarried siblings & children for single Cardholders. |
This means Credit Protect Plus will make card repayments for you if you have an accident, get sick, or lose your job. You won't have to pay for unauthorized transactions if your card gets lost or stolen. And your minimum monthly payments will continue to be made by Life Events Benefit on your card for the next three months if you experience any of the five covered life events.
Credit Protect Plus is underwritten by Pru Life U.K. while Life Events Benefit and Lost Card Protection Insurance is underwritten by Prudential Guarantee Assurance Inc. These insurance products are marketed by HSBC Insurance Brokers (Philippines) Inc. Coverage under these insurance products are subject to the Exclusions and Conditions of the Policy Contracts which will be sent to you after your enrollment has been accepted.
Credit Protect Plus is an obligation of Pru Life U.K. and is not a deposit with, or product or obligation of, nor is it guaranteed by HSBC, HSBC Insurance Brokers or any of their subsidiaries or affiliates.
Frequently Asked Questions
How do I make a claim?
Call CPP hotline 857-0777 or 1-800-10-7785465 (toll-free) between 9 am to 5 pm Mon-Fri.
Is there any time period limitation for reporting of a claim?
All claim requests must be received within 90 days from the date of card loss or life event occurrence.
What is your turn around time for claims payment?
Claims will be paid within 45 working days upon receipt of valid document requirements.
Can I claim more than one Life Event in one year?
A cardholder can only claim for one event per policy year.
OTHERS
What is the major exclusion of Life Events Benefit& Lost Card Protection?
Any dishonest, fraudulent or criminal act of the Insured Cardholder acting alone or in conjunction with others. Cash advance transactions or any transactions without a signed transaction charge slip are not covered under Lost Card Protection Insurance. Please read your Credit Protect Plus Certificate for the complete list of exclusions.
Who is PRU Life U.K.?
PRU Life UK is one of the top-rated life insurers in the country today. Its parent company, Prudential, is a UK-based, 161-year old financial brand that is respected and trusted all over the world, where it manages an extensive network life insurance and mutual funds operations. In Asia, Prudential’s presence spans more than 70 years through 11 countries including Hong Kong, Singapore, Malaysia, China, Taiwan, Japan, Thailand, Vietnam, Indonesia, India, Korea and the Philippines.
For all general enquiries please call CPP hotline 857-0777 or 1-800-10-7785465 (toll-free) between 9 am to 5 pm Mon-Fri.
